It is fully possible, and there are even some fairly legitimate use cases for this. Using the Prototype framework it's done as follows.
new Ajax.Updater('items', '/items.url', {
parameters: { evalJS: true}
});
See documentation of the Ajax updater. The options are in the common options set. As usual, there are some caveats about where "this" points to, so read the fine print.
The JavaScript code will be evaluated upon load. If the content contains function myFunc(),
you could really just say myFunc()
afterwards. Maybe as follows.
if (window["myFunc"])
myFunc()
This checks if the function exists. Maybe someone has a better cross-browser way of doing that which works in Internet Explorer 6.